Borosil Renewable jumps 16% in three sessions

Borosil Renewables hit an upper circuit limit of 5% at Rs 655.70, extending gains for the third trading session.

Shares of Borosil Renewables have surged 15.75% in three sessions.

On a year-to-date (YTD) basis, the stock has surged 315.26% while the benchmark Sensex has added 25.43% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 85.71. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 593.25, 590.34 and 545.62, respectively.

Borosil Renewables is engaged in the business of manufacturing extra clear patterned glass and low iron solar glass for application in photovoltaic panels, flat plate collectors and greenhouses.

The company's net profit rose 142.60% to Rs 34.11 crore on 40.70% rise in net sales to Rs 160.52 crore in Q2 September 2021 over Q2 September 2020.

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